If I file my federal return one day after the tax deadline, will I have to pay a tax deadline penalty or interest?
If you owe tax, you usually will. However, you won’t pay a late taxes penalty or interest if you’re:
- Receiving a refund
- Outside the country while serving in the military
- Living in a federally declared disaster area
If you have a balance due, the IRS can assess both of these:
- Late-filing penalty — 5% of the balance due per month up to 25%
- Late-payment penalty — 0.05% (or part of a month), up to 25% of the tax due
The IRS charges interest on unpaid tax from the return’s due date until the date of payment.
Wondering if there were Medicare changes due to the tax reform implementation? Get up-to-date on Medicare rules and tax reform.
Learn about the IRS Notice CP85A, why you received it, and how to resolve an incorrect filing status. Get tax help from the tax experts at H&R Block.
There was not sufficient funds in your checking account to cover your monthly payment. Learn more about IRS notice CP166 from the tax experts at H&R Block.
The IRS has named the top IRS scams. Know what they are and how to avoid the most prevalent, like IRS impersonators harassing you by phone, with H&R Block.